Wolters Kluwer to buy 62% of Third Coast Holdings

IanWalker

Global information services company Wolters Kluwer N.V. (WKL.AE) said Wednesday it's buying the remaining 62% of Third Coast Holdings Inc. for $180 million in cash, taking its total investment in the firm to $197 million since 2002.

Third Coast and its operating companies provide enterprise legal management software and services for general counsel and law firms in the U.S. and internationally. Estimated 2013 revenue is $57 million.

The acquisition is expected to be "slightly" earnings enhancing in the first full year following completion, the Dutch firm said, adding that it expects to record a non-cash book profit of $100 million on its minority investment upon closing, subject to accounting adjustments.

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